Revenue is up, profit is up - a good quarter for Flextronics

Second quarter adjusted operating income increased 16% year-over-year to USD 183 million and was at the high end of the Company's previously provided guidance range of USD 165 million to USD 190 million. "Our consistent execution continues to pay off with measured improvements across many areas of our business, including our operating margins, which improved for the sixth consecutive quarter," said Mike McNamara, chief executive officer at Flextronics. "We are also pleased to have exceeded our revenue expectations in HRS and CTG in addition to posting USD 6.53 billion in sales," he added. "We continued to deliver strong cash flow generation with cash flow from operations of USD 387 million and free cash flow of USD 322 million during the quarter," said Chris Collier, chief financial officer at Flextronics. "Additionally, we further demonstrated our commitment to return value to shareholders by repurchasing another 9.3 million shares during the quarter for USD 101 million," he added. ----- Images: © Flextronics